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masya89 [10]
3 years ago
10

As the number of firms in an oligopoly increases, a. the total quantity of output produced by firms in the market gets closer to

the socially efficient quantity. b. the oligopoly has more market power and firms earn a greater profit. c. the output effect decreases. d. each seller becomes more concerned about its impact on the market price
Business
1 answer:
Aleksandr [31]3 years ago
4 0

Answer:

A is the correct answer.

Explanation:

Oligopoly is the market form in which a small number of large sellers dominate. It results in the reduction of the competition and leads to higher prices for consumers. they have their market structure. In oligopoly each firm stays aware of others,  hence their decisions influence others and vice versa. The developed economies are dominated by Oligopolies. For example, if the total market share of the American telecom companies (Verizon wireless, AT and T and T mobile ) is combined, it comes out to be more than ninety percent.

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For each error below, indicate:
patriot [66]

Answer:

1. Inventory account will be affected and assertions of accuracy and valuation will be violated.

2. Assets are overstated and assertion classification is violated.

3. Liability is understated and assertions of accuracy is violated.

4. No impact.

Explanation:

Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.

8 0
2 years ago
"Your customer, age 68, who has an IRA account at your firm valued at $500,000, passes away. The customer leaves the account to
vredina [299]

Answer:

My best advice for the spouse would be to designate herself as the new account owner, and since she is 62, she can start taking regular distributions from it. Any distributions that she takes will be taxed as ordinary income (the same rule would have applied to the late husband).

Explanation:

If she had her own IRA account (which is doubtful since she doesn't work), she could also roll over her late spouse's balance into her own account.

The wife's third option would be to treat herself as a beneficiary, not the owner or spouse, but that would only complicate things and result in higher costs.

5 0
2 years ago
Daveed is the warehouse supply manager for a privately owned auto parts distributor. It is his job to take inventory of the prod
vodomira [7]

This form of production that operates on supply and demand is the <u>market economy.</u>

<h3>Facts about the market economy </h3>
  • Is controlled by forces of supply and demand.
  • Citizens are allowed to own the means of production.

The warehouse Daveed works in is privately owned and they seek supply based on the demand for their goods.

This is in conclusion, a market economy.

Find out more on the market economy at brainly.com/question/1659498.

7 0
2 years ago
Which of the following best approximates a pure monopoly? rev: 05_15_2018 Multiple Choice
goldfiish [28.3K]

Answer:

3) The only bank in a small town

Explanation:

By definition a monopoly occurs when there is only one supplier in the market for a specific good or service. In this case, if there is only one bank that works in a small town, then that bank has a monopoly of all the town's residents that require banking services. If any resident doesn't like that specific bank, they need to go to another town in search for banking services.

5 0
2 years ago
Cash Acme Company Balance Sheet As of January 5, 2021 (amounts in thousands) 13,700 Accounts Payable 3,200 Debt 5,100 Other Liab
IgorC [24]

Answer:

Acme Company

1. Acme Company

Balance Sheet

As of January 6, 2021 (amounts in thousands)

Cash                                         13,819

Accounts Receivable                3,188

Inventory                                  5,100

Property Plant & Equipment 15,445

Other Assets                             800

Total Assets                         38,352  

Liabilities and Equity:

Accounts Payable                 2,000

Bank Payable                             67

Debt                                      3,600

Other Liabilities                      900

Total Liabilities                    6,567

Equity:

Paid-In Capital                     7,285

Retained Earnings            24,500

Total Equity                        31,785

Total Liabilities & Equity  38,352

2. The final amount in Accounts Payable remains $2,000,000, but the Bank Payable increased from zero to $67,000.

Explanation:

a) Data and Calculations:

Acme Company

Balance Sheet

As of January 5, 2021 (amounts in thousands)

Cash                                        13,700

Accounts Receivable              3,200

Inventory                                  5,100

Property Plant & Equipment 15,400

Other Assets                             800

Total Assets                         38,200  

Liabilities and Equity:

Accounts Payable                 2,000

Debt                                      3,600

Other Liabilities                      900

Total Liabilities                    6,500

Equity:

Paid-In Capital                     7,200

Retained Earnings            24,500

Total Equity                        31,700

Total Liabilities & Equity  38,200

Transaction Analysis:

1. Cash $12 Accounts receivable $12

2. Equipment $45 Cash $45

3. Cash $85 Paid-in Capital $85

4. Cash $67 Bank payable $67

Cash

Beginning balance    13,700

Accounts receivable        12

2. Equipment                 (45)

3. Paid-in Capital            85

4. Bank payable             67

Ending balance        13,819

4 0
2 years ago
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